BoJ's kuroda: There is a chance economy won't stage V-shaped recovery

"Yield curve control is a framework that automatically enhances the mutual effect of fiscal, monetary policies," Bank of Japan (BoJ) Governor Haruhiko Kuroda said on Friday.

"Even if the virus is contained in japan, if they are not contained globally exports, inbound tourism won't rebound," Kuroda further explained in a joint statement with Finance Minister Taro Aso. "There is a chance economy won't stage v-shaped recovery."

Market reaction

The USD/JPY pair largely ignored these comments and was last seen trading at 107.50, where it was down 0.12% on a daily basis.